Transcription of Six Steps to an Effective Continuous Audit Process
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Six Steps to an Effective Continuous Audit Process
1 Six Steps to an Effective Continuous Audit Process Establishing priority areas and determining the Process ' frequency are two of the six Steps that internal auditors and senior managers need to take into consideration before making the switch to Continuous auditing. Carlos Elder de Aquino Chief Auditor, Unibanco Washington Lopes da Silva IT Audit Superintendent, Unibanco Nilton Sigolo Manager, Continuous Auditing, Unibanco Miklos A. Vasarhelyi Professor of Accounting, Business Ethics and Information Systems, Rutgers University The need to improve and accelerate Audit activities has led in part to the increased adoption of Continuous auditing as a vital monitoring tool. Initially recorded at AT&T Corp. by its Bell Laboratories research center during the late 1980s and early 1990s, Continuous Audit efforts are now under way in organizations including Siemens, HCA Inc.
Typically, continuous monitoring is a management function to ensure that company policies, procedures, and business processes are operating effectively and addresses management's responsibility to assess the adequacy and effectiveness of internal controls. In addition, continuous monitoring usually involves the automated testing of all
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